Colliers Brokers $8.2 Million Sale Of Office Building In Parsippany With 1031 Exchange Buyer

The property involved in this transaction is a 63,143-square-foot office building located at 2200 Route 10, in the Parsippany market. The sale price of the property was $8,200,000, translating to a price per square foot of $130. The building is occupied by government, medical, and professional tenants and is noted for its strong visibility and access to major highways.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $8,200,000
• Square Footage: 63,143
• Address: 2200 Route 10
• Market: Parsippany
• Price per Square Foot: $130

The transaction was brokered by Jacklene Chesler, Matthew Cohen, Patrick Norris, and Philippe Jomphe of Colliers, who represented the seller in this deal. The buyer was identified as a 1031 Exchange buyer, highlighting the transactional arrangements involved.